PHOENIX - Omnibus accounts consolidate the trade activity of multiple shareholders in an investment vehicle into a handful of trades, making it difficult to identify individual shareholder activity. How do in-house counsel and mutual fund boards make sure that their omnibus accounts are on the up and up with regulators?

Legal eagles in the mutual fund space today tried to give an audience of mostly their peers at the Investment Company Institute's Mutual Funds and Investment Management Conference some sound advice on avoiding the potential pitfalls of omnibus accounts.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.